My father have an old '72 schwinn cruiser bicycle with springer fork, is not really vintage but it uses old parts. He saw my Topeak Alien II Multitool and he really like it but must of the tools were not needed or usefull for him. What other multitool will you recommend to be use with the cruiser?

Well, the problem is that he probably needs box wrenches rather than Allen keys I guess. I have a very simple toolhttp://www.bike-fitline.com/lexikon/images/knochenschluessel.gif
they come in low and very low quality... you'd probably be better off carrying the two or three wrenches you actually need in the saddle bag. I have a set of cheap = use three or four times only wrenches in my bag that I sometimes (rarely) use on my train-to-office bike.

For the road bike I have a very cheap and simple "multitool" with just a buch of allan keys and a screwdriver + inner tube + tyre levers (Schwalbe) + 2 latex gloves in an old, cheap swim cap taped to a bag with electrical tape and strapped under the saddle. It's small, light and contains all I need... hopefully.
On the other normal bikes I usually have a similar assortment of stuff as you carry, except for the CO2 stuff and the crescent wrenches.
For my train-to-office beater I have a pair of wrenches plus the "bone" wrench in my bag. No tubes, pump, ... this stuff lives in my office.